Wednesday, September 10, 2014

Auto-parts maker Visteon Corp is exploring a plan to split into two companies focused on electronics and climate controls, Bloomberg reported, citing people familiar with the matter.Visteon, once a part of Ford Motor Co may consider selling or spinning off the electronics business, the report said. (bloom.bg/1xISQ6w)The company's shares rose as much as 6.2 percent to $109.41 on the New York Stock Exchange on Wednesday.Visteon's board has concluded that the two divisions have little overlap in their operations and add little value under one corporate umbrella, the report said.

Ford Motor Company (Ford) is a producer of automobiles. Shares of F remained unchanged at $16.63. In the past year, the shares have traded as low as $14.40 and as high as $18.12. On average, 24791400 shares of F exchange hands on a given day and today's volume is recorded at 16377133.

Visteon Corporation (Visteon) is a global supplier of climate, electronics and interiors systems, modules and components to automotive original equipment manufacturers (OEM), including BMW, Chrysler, Daimler, Ford, General Motors, Honda, Hyundai, Kia, Nissan, PSA Peugeot Citroen, Renault, Toyota and Volkswagen. Shares of VC traded higher by 4.3% or $4.43/share to $107.49. In the past year, the shares have traded as low as $72.35 and as high as $104.68. On average, 432570 shares of VC exchange hands on a given day and today's volume is recorded at 2228036.

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